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A career in data science requires a thorough understanding of mathematics and statistics. At the heart of data science is machine learning, analytics and statistical skills to draw meaningful insights.
At its heart, data science is the art of analyzing petabytes and terabytes of data in a short span of time and extracting useful information from huge volumes of data. Over the years, data scientists have successfully created new fields of knowledge such as predictive analytics which is used extensively in manufacturing, retail and healthcare and helps in streamlining operations and bringing down costs significantly. Simply put, the job of the data scientist is to work on analysis and modeling of data.
However, besides technical skills, a deep industry knowledge and problem-solving skills are definitely a must have. One cannot find insights in real life datasets if not asking the right questions. Finding patterns and insights is dependent on variables which are assigned by data scientist. Ask any data scientist and they will tell you that after data cleansing, you apply domain knowledge to decide which algorithm is the best fit for seeking results. Data scientists are meant to resolve business problems by addressing the right problem that will yield most value to enterprises.
The field of Data Science is emerging and converges with similar fields such as Business Analytics, Data Analytics and many other names. Business and Data Analytics are business oriented with elements with computer programming while data science is computer programming and mathematically oriented field meeting business needs using packages and specialist software but they’re packages to analyze data. It’s the data scientist who is building it from the top and coding it and to produce unique capabilities and most companies need most layers and designing custom solutions.
In January 2019, Forbes reported on the importance of data scientists in the emerging technologies workforce. Glassdoor’s 50 Best Jobs in America for 2019 reports that for the fourth year in a row,
Data Scientist is the number one job in the United States.
The average median base salary for a Data Scientist is US$108,000. Indeed reports that the average salary for a Data Scientist in San Francisco is 31% higher than the national average at $161,730. San Francisco, Silicon Valley and the entire Bay Area are the world’s number one technology hub and are leading centers of technology, big Data and innovation.